Is mandatory for an Agreement for relinquishment of Rights to be registered.
I am party to a transation we are trying to negotiate, where some ancestral property was sold off by a few heirs and the property transferred to the buyer. He has registered this agreement and paid stamp duty.
To safeguard his title he is making a deed of ratification of the earlier agreement wherein we relinquish our rights against some compensation.
Does this document have to be registered? We want to claim caiptal gains tax on the compensation.
The buyer claims he has paid full stamp duty and does not have to pay stamp duty on this?
Is he correct?
